Russia plans to invest $2 billion in Argentinian nuclear power plants, and Russia's Gazprom has signed a deal to explore oil and gas fields in Argentina, a project worth another $1 billion.

Argentinian President Cristina de Kirchner and Russian President
Vladimir Putin announced a renewed energy pact at a news
conference in Moscow on Thursday.

Russia’s state nuclear energy company, Rosatom, said it will
provide funds to build a sixth reactor at the Atucha nuclear
power plant in Buenos Aires province.

"The amount of Russian investment is about $1.9
billion,” Putin said.

Russia’s Inter RAO Group signed a letter of intent for the
construction of the Chihuido-1 hydroelectric power plant on the
Neuquen River – a project worth $2 billion. Russia’s VEB bank
will provide $1.2 billion of the needed investment, Sputnik
reported. The power station will have a capacity of 637
megawatts. The company also expressed its interest in building
the Chihuido-2 plant with a 296 megawatt capacity.

President de Kirchner signed a nuclear power deal in July 2014
when President Putin visited Argentina before the BRICS summit in
Brazil.

The high-level talks were not only fruitful in hydroelectric
power, but also in gas.

“Gazprom is preparing a master plan to develop the Argentine
gas industry, and is considering the possibility of setting up a
joint venture to develop hydrocarbon deposits in Argentina,”
the Russian president said.

Russia’s largest gas producer Gazprom signed a memorandum of
cooperation with Argentinian energy company YPF to explore the
Vaca Muerta oil and gas fields in southern Argentina. According
to the Argentine Ministry of Industry, the project could cost $1
billion.

It’s estimated to be one of the largest shale reserves in the
Western hemisphere. If the fields are properly developed they
have the potential to double Argentina’s energy output within 10
years, Reuters reported Wednesday.

At present, more than 20 percent of Argentina’s energy is
produced with Russian technology and equipment.

The two heads of state signed over 20 documents and established
an "all-encompassing strategic partnership" across
sectors such as agriculture, trade, and military cooperation, as
well as memorandums to boost environmental protection and fight
drug trafficking.

At the talks Putin assured de Kirchner that her country has
Russia’s support in its territorial dispute with Great Britain
over the Malvinas (Falkland) Islands. The Russian President also
urged for the work on a GLONASS station in Argentina to be sped
up.

Putin said that the Russian heavy machinery company Uralmash,
"plans to set up a joint venture with Argentine partners to
produce oil equipment in Argentina."

Another major deal relates to transport: Russia will supply 40
trolleybuses to Argentina in June.